• Retirement & Employee Benefits Provisions of the Tax Relief Act of 2001
  • April 30, 2003 | Authors: Richard C. Mapp; Eric M. Cotts
  • Law Firm: Kaufman & Canoles A Professional Corporation - Norfolk Office
  • The Economic Growth & Tax Relief Reconciliation Act of 2001 (the "Act"), which was signed into law by President Bush on June 7, 2001, contains significant changes to the federal income tax provisions applicable to virtually every type of tax-qualified retirement arrangement. The Act's provisions include the well-publicized increases in the limits on benefits and contributions; however, the Act also includes several lower profile, but important, changes to the way these plans must be administered, designed, and communicated to participants.